1) Gérald Léveillé vs. Avantage Link Inc. (formerly Jitec Inc.), Benoit Laliberté, CIBC World Markets Inc., LVM Canada Ltée (formerly Leduc & Associates Securities (Canada) Ltd.), and Canaccord Genuity Corp. (formerly Canaccord Capital Corporation) (collectively the "Defendants"), Superior Court of Quebec, Case Number 500-06-000118-006.

2) Nutri-Mer Inc. vs. the Defendants, Superior Court of Quebec, Case Number 500-06-000189-031

Class Action lawsuits were filed in the Superior Court of Quebec in both of the above matters. The 1st Class Action is on behalf of individuals, and the 2nd Class Action is on behalf of legal persons established for a private interest, partnerships or associations (provided that between January 1 and December 31, 2002, not more than 50 persons were bound to it by contract of employment, and it was dealing at arm's length with the representative Nutri-Mer Inc.). The Class action lawsuits may be viewed by clicking on the links below.

The Class Actions allege that Class members sustained losses on shares of Jitec Inc. that they owned between July 26, 2000 and November 9, 2000, due to the Defendants' alleged actions in relation to the trading volume and the price of Jitec Inc. stock on the Montreal Stock Exchange. The Class Actions seek to recover monetary compensation from the Defendants on behalf of the Class members. The Defendants have denied all allegations of negligence or wrongdoing, and deny causing damages to the Class members.

With the assistance of Superior Court Chief Justice François Rolland, the parties have agreed to a global settlement of both of the Class Actions (the "Settlement"). English and French versions of the entire Settlement Agreement may be viewed on this website by clicking on the links below. In summary, under the Settlement, the Defendants will contribute towards the payment of the global sum of $9,850,000 CDN in full and final settlement of the two Class Actions, inclusive of the fees, taxes and disbursements that the Court authorizes to be paid to lawyers for the Class members and to the Claims Administrator, and inclusive of any amounts that may be due to the Fonds d'aide aux recours collectifs. A condition of the Settlement is that all Class members shall grant a full and final release and discharge to the Defendants, their affiliates, subsidiaries and related persons, from any claims arising from the facts alleged in the Class Actions.

The proposed Settlement must be approved by the Court, and there will be a settlement approval hearing on October 27, 2014 at 9:15 a.m. in Room 15.10 the Montreal Courthouse, located at 1 Notre-Dame Street East, for this purpose. If the Settlement is approved by the Court, Class members who file a Proof of Claim which is accepted by the Claims Administrator will be paid their pro rata share of the net settlement proceeds.

A Notice regarding the proposed Settlement of these Class Actions will be published in The Gazette, La Presse, Le Journal de Montréal, and Le Journal de Québec on September 22, 2014. The English and French text of this Notice may be viewed on this website as well by clicking on the links below. Class members who do not wish to object to or make representations regarding the proposed Settlement do not need to attend the settlement approval hearing in order to be eligible to benefit from the Settlement. Class members who do wish to object to or make representations regarding the proposed Settlement may do so by notifying the attorneys for the parties of the nature and the grounds of their objections or representations, in writing or by e-mail, by no later than October 22, 2014, in accordance with the terms set forth in Section 5 of the Settlement Agreement; the Settlement Agreement may be viewed on this website.

This summary will be updated following the settlement approval hearing.

Documents available for consultation:

  1. Gérald Léveillé Class Action
  2. Nutri-Mer Inc. Class Action
  3. Settlement Agreement (French version)
  4. Settlement Agreement (English version)
  5. Notice of Proposed Settlement (French version)
  6. Notice of Proposed Settlement (English version)

C) 2012 Kugler Kandestin, LLP / SENCRL